Tag Archives: Kevin Gipson

Can An Emergency Bankruptcy Be Filed To Stop A Foreclosure?

An emergency bankruptcy (sometimes referred to as a skeleton bankruptcy) can be filed to stop a foreclosure, however it is not a good idea to wait to the last minute to stop a foreclosure for a number of reasons. First,  the changes … Continue reading

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More Than 1 Million Homeowners Are Expected To Lose Homes To Foreclosure In 2010!

The Associated Press is reporting today that more than 1 million American homeowners are likely to lose their homes to foreclosure this year. RealtyTrac Inc., a foreclosure listing service, reports that nearly 528,000 homes were taken over by lenders in … Continue reading

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Can Federal Income Taxes Be Discharged In Bankruptcy?

Whether or not income taxes can be discharged in a bankruptcy will depend upon two main factors: Whether a timely, legitimate tax return was filed; and Whether it has been more than three years since the legitimate tax return was … Continue reading

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They Went Broke Too! Former Detroit Lions Defensive Lineman Luther Elliss

Citing failed business ventures and poor real estate investments, former Detroit Lions defensive lineman Luther Elliss has file for bankruptcy protection. Mortgage debt and tax bills are the former Detroit Lion’s primary liabilities. Elliss filed for Chapter 7 bankruptcy protection listing … Continue reading

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Myth No. 9: If You Own A Home You Must Give Up Your Home If You File For Bankruptcy.

If you already own a home you must give up your home if you file for Bankruptcy. To the contrary both Chapter 7 and Chapter 13 can be used to keep your home. Your home mortgage is a secured debt. … Continue reading

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Myth No. 7: If you file for Bankruptcy, you will never be able to get any new credit for anything.

You can get credit after you file for bankruptcy. It takes time to re-establish credit, but you can if you want to get credit. I say ” if you want to get credit” because it is a very tempting to start … Continue reading

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